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Pipeline Health System, LLC Partners with Premier Inc.
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Premier (NASDAQ: PINC) has partnered with Pipeline Health to enhance operational efficiency across its seven hospitals. The collaboration, effective early 2022, will utilize Premier's supply chain services and technologies, including its PINC AI™ technology, to optimize performance and identify cost savings. Pipeline Health aims to improve patient care through this partnership, with expected benefits in supply chain innovation and contract risk reduction. Financial terms were undisclosed, and this agreement is not anticipated to materially impact Premier's fiscal year 2022 results.
Positive
New partnership with Pipeline Health to enhance operational efficiency across seven hospitals.
Access to Premier's supply chain services and technologies, including PINC AI technology, to identify cost savings.
Focus on improving patient care and operational performance.
Negative
Financial terms of the agreement were not disclosed.
The collaboration is not expected to have a material impact on Premier's fiscal year 2022 results.
Premier supply chain services, PINC AI™ technology and Conductiv® purchased services capabilities to enhance operational efficiency and financial stability across Pipeline Health’s 7 hospitals
CHARLOTTE, N.C.--(BUSINESS WIRE)--
Pipeline Health System, LLC (“Pipeline Health”), an independent network of hospitals across California, Texas and Illinois, has selected Premier Inc. (NASDAQ: PINC), a leading technology-enabled healthcare improvement company, to drive operational excellence and margin improvement opportunities across its facilities nationwide.
Through this new agreement, which will go into effect in early 2022, Pipeline Health will have access to Premier’s supply chain services, including its group purchasing organization (GPO), supply analytics and PINC AI™ Margin Improvement technology to aggregate and standardize systemwide spend and utilization data, pinpoint cost savings opportunities, and strengthen and accelerate supply chain innovation enterprise wide.
PINC AI technology capabilities being leveraged include Remitra™, a cloud-based procure-to-pay (P2P) platform that seamlessly automates manual payment and invoicing processes to reduce waste and save time for both healthcare providers and suppliers. Pipeline Health will also leverage Conductiv, a consolidated subsidiary of Premier, to support a scalable third-party services optimization program to help drive savings, reduce contract risk and improve internal user satisfaction. Pipeline Health will access Conductiv Contracts, a dedicated GPO for third-party services, and Conductiv’s AI-based analytics, benchmarking and negotiation technology platform with built in subject matter expert support.
"Today, building healthier communities requires comprehensive and technology-enabled solutions to manage the vital products and resources we need to best serve our patients,” said Robert Allen, Chief Financial Officer at Pipeline Health. “Pipeline Health is committed to providing quality patient care to the communities we are privileged to serve. Our goal with Premier is to partner in ways that will help us optimize performance and drive innovation in the fulfillment of our mission.”
“We are thrilled to welcome Pipeline Health to our membership,” said Andy Brailo, Chief Customer Officer for Premier. “Premier’s comprehensive supply chain services and PINC AI technology suite will help Pipeline Health thrive in today’s and tomorrow’s healthcare environment – enabling them to streamline operations, drive performance improvement and manage supply chain costs all in one place. We are proud of this partnership with Pipeline Health and look forward to helping them achieve superior savings, drive transparency and build resiliency for the future.”
The financial terms of the collaboration were not disclosed. The collaboration is not expected to materially impact Premier’s fiscal year 2022 financial results.
Forward-Looking Statements
Matters discussed in this release that are not statements of historical or current facts, are “forward-looking statements” within the meaning of the Private Securities LitigationReform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as “believes,” “belief,” “expects,” “estimates,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. Forward-looking statements may include comments as to Premier’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Premier’s control. More information on potential factors that could affect Premier’s financial results is included from time to time in the “Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Premier’s periodic and current filings with the SEC and available on Premier’s website at investors.premierinc.com. Forward-looking statements speak only as of the date they are made. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date.
About Premier, Inc.
Premier, Inc. (NASDAQ: PINC) is a leading tech-enabled, data-driven healthcare improvement company, uniting an alliance of more than 4,400 U.S. hospitals and health systems and approximately 225,000 other providers and organizations to transform healthcare. Premier is also the force behind Remitra™, one of the most comprehensive, cloud-based procure-to-pay (P2P) technology platforms that seamlessly automates healthcare financial processes to reduce waste and save time for both healthcare providers and suppliers. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost. Premier plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on www.premierinc.com; as well as Twitter, Facebook, LinkedIn, YouTube, Instagram and Premier’s blog for more information about the company.
